Novo signs $1.3 billion deal with Nanexa to add long-acting injectables for obesity and diabetes

Novo has entered a licensing agreement with Nanexa, valued at about 1.17 billion euros, to use Nanexa’s PharmaShell platform for its obesity and type‑2 diabetes medicines.

The PharmaShell technology coats drug particles with an inorganic layer that creates a depot under the skin; as the coating dissolves, the drug is released gradually, allowing monthly or quarterly dosing.

Under the deal, Novo receives an exclusive global right to apply the platform to up to five peptide programs, with up‑front and milestone payments that could total roughly 615 million euros in cash and up to 550 million euros tied to sales.

The agreement follows earlier collaborations in the space, such as Moderna’s $3 million investment in Nanexa last year, and reflects Novo’s strategy to extend the dosing windows of its cardiometabolic portfolio.